GRC Dividend Type Payments
Although GRC has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Gorman-Rupp Company (The) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 10:30 AM ET):
| Gorman-Rupp Company (The) (GRC) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 38.21 | 38.54 | 38.38 | -0.24 | 3K | 30 | 1.0B |
GRC Dividend-Like Income Using Covered Calls
With GRC at 38.38, here's a table showing how big the annual "dividend" (i.e. total annual call premium received) would need to be to attain 3%, 5%, and 10% annual yields. Also shown is the equivalent number of cents/day necessary to achieve each yield:
| Annual Yield | Annual Premium | Cents/Day |
|---|---|---|
| 3% | 1.15 | 0.3 |
| 5% | 1.92 | 0.5 |
| 10% | 3.84 | 1.1 |
So now we need to find out of the money covered calls that pay at least the prescribed cents/day amount of time premium. That will generate income and, because they are out of the money, leave room for some upside potential on the stock. Here are some examples:
| 3% Yield On GRC Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Mar 21 | 40.00 | 0.55 | 165 | 0.3 | 1.46 (3.8%) | |
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| Top 10 Open Interest For Oct 18 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | EEM dividend | 1. | SAVA dividend | |
| 2. | IWM dividend | 7. | SLV dividend | 2. | ASTS dividend | |
| 3. | FXI dividend | 8. | SMCI dividend | 3. | SRRK dividend | |
| 4. | SPY dividend | 9. | HYG dividend | 4. | IREN dividend | |
| 5. | QQQ dividend | 10. | TSLA dividend | 5. | AEHR dividend | |
Want more examples? GRBK Dividend | GREK Dividend
